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2025-11-03 18:05:35
[Palm oil suffers double blow: seasonal demand wanes coupled with supply pressure] ⑴ Malaysian palm oil futures closed down 92 ringgit at 4115 ringgit/ton, a drop of 2.19%. ⑵ Market concerns about rising Malaysian production and inventory levels simultaneously create a double whammy of negative fundamental pressure. ⑶ The seasonal demand peak has passed after Diwali, and future consumption is expected to weaken. ⑷ Technical analysis shows key support at 4080 ringgit and resistance at 4230 ringgit. ⑸ Current prices are at the midpoint of the support and resistance range, reflecting a stalemate between bulls and bears. ⑹ The performance of the November contract suggests the market will maintain a weak and volatile pattern in the short term.
